Millennials Driving Multifamily Sector Boom: Valuation Magazine

March 21, 2017 08:00 AM

CHICAGO (March 21, 2017) – Millennials have postponed home buying and are now in their peak renting years, creating a demand for multifamily properties that has pushed the sector to record-growth levels with no sign of slowing, according to an article published in Valuation magazine’s first quarter 2017 issue.

Valuation magazine is a quarterly publication of the Appraisal Institute, the nation’s largest professional association of real estate appraisers.

In the magazine’s cover story, “Strength in Numbers,” industry experts discuss how the multifamily sector is meeting the millennials’ demands for “freedom and flexibility” in housing, as well as the needs of baby boomers leaving suburbia for urban areas and tenants opting for convenience over space.

“On the Right Track” focuses on California’s high-speed rail project, which is now under construction after decades of planning. The valuation and acquisition of the thousands of acres needed for the rail’s right of way can be an appraiser’s dream job or greatest challenge.

“Uncommon Ground” examines the opportunities the valuation of ground leases can offer appraisers. Their expertise can provide input for the initial lease, for the later lease renegotiation and for the resolution of disagreements through arbitration.

The Appraisal Institute is a global professional association of real estate appraisers, with nearly 19,000 professionals in almost 60 countries throughout the world. Its mission is to advance professionalism and ethics, global standards, methodologies, and practices through the professional development of property economics worldwide. Organized in 1932, the Appraisal Institute advocates equal opportunity and nondiscrimination in the appraisal profession and conducts its activities in accordance with applicable federal, state and local laws. Individuals of the Appraisal Institute benefit from an array of professional education and advocacy programs, and may hold the prestigious MAI, SRPA, SRA, AI-GRS and AI-RRS designations. Learn more at www.appraisalinstitute.org.